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<ul><li>BYJU's is an <keyword id="1464841" type="General" weightage="20" keywordseo="edtech" source="Orion">edtech</keyword> platform founded in 2015 with a current valuation of $22 billion. </li><li>Management of the edtech platform says cost-cutting is being done to “achieve overall profitability by March 2023”. </li><li>Many edtech firms have resorted to layoffs this year. </li></ul>Indian edtech decacorn BYJU's announced yesterday that it has laid off 2,500 employees as it has consolidated the many platforms it has acquired – like Toppr, Meritnation, <keyword id="192259" type="General" weightage="50" keywordseo="tutorvista" source="Orion">TutorVista</keyword>, Scholar and HashLearn. This move, the company said, is a way to avoid redundancies in job roles and the layoffs constitute 5% of its workforce. “These measures will help us achieve profitability in the defined time frame of March 2023," said Mrinal Mohit, CEO, BYJU'S India business. As per the audited FY21 financials that it released last month after an 18-month delay, its losses widened by 20 times to ₹4,589 crore. In the last three years, the company has been on an acquisition spree. Its biggest one so far is that of offline test preparatory services provider Aakash for $1 billion in 2021. The payments to PE major Blackstone, which owned 38% in Aakash, were eventually <a href="https://www.thehindu.com/business/byjus-clears-230-million-dues-to-blackstone-for-aakash-acquisition/article65931486.ece">cleared by the company, albeit after delays</a>. It has also purchased Singapore-based <keyword id="6559242" type="General" weightage="50" keywordseo="great-learning" source="Orion">Great Learning</keyword> for $600 million in 2021. Both these entities will function independently, <keyword id="3320944" type="General" weightage="100" keywordseo="byjus" source="Orion">Byjus</keyword> had said. Edtechs in trouble This year, many edtech companies have been suffering from loss of clientele after offline classes have commenced and screen fatigue. Since July this year, many edtech companies like Unacademy and Vedantu have been laying off <a href="https://www.businessinsider.in/business/startups/news/60000-jobs-in-startup-companies-may-lose-their-jobs-this-year-in-india-experts-say/amp_articleshow/91804572.cms">employees</a>. Byju’s which has by then also made its presence felt in offline coaching, is also known to have gone down the same path. As per reports, <a href="https://www.business-standard.com/article/companies/byju-s-owned-whitehat-jr-lays-off-300-employees-in-latest-round-of-job-cuts-122062900323_1.html">WhiteHat Jr, owned by Byju's</a>, laid off around 300 employees in June from the code-teaching and sales teams. However, various <a href="https://www.news18.com/news/business/byjus-lays-off-over-2500-employees-in-toppr-and-whitehat-jr-to-cut-costs-5463853.html">media reports have pegged the layoff </a>number between 1,500-2,500. The company vehemently denied the numbers, but did admit to retrenchments. “To recalibrate our business priorities and accelerate our long-term growth, we are optimizing our teams across our group companies. This entire exercise involves less than 500 employees from across Byju's group companies,” the company spokesperson said after denying the 2,500 layoff number. In good shape says management The edtech giant, which is valued at around $22 billion and is the first edtech unicorn in India has also been under scrutiny for various reasons. The company management however insists that it is in good shape. <keyword id="5563078" type="General" weightage="50" keywordseo="divya-gokulnath" source="Orion">Divya Gokulnath</keyword>, the company’s co-founder also came out in defense of the company saying that a lot has happened since its FY21 results and its widened losses have already been cut by half in FY22. “It’s easy to forget that we are 18 months post FY21, and that BYJU’S has grown more than 4 times in this span,” she wrote in an open letter on LinkedIn. For this year, the company has set a target to achieve $2 billion in revenues. The company founder has stated time <a href="https://www.business-standard.com/article/companies/byju-s-focusing-on-profitable-growth-2-bn-revenue-within-the-sights-ceo-122092001266_1.html">and again that this</a> “revenue within sight”. On the other end of the spectrum, <a href="https://www.bbc.com/news/world-asia-india-58951449">Byju’s users have been complaining </a>about aggressive sales tactics and its effects on learning abilities. Moreover, a few of its employees too <a href="https://twitter.com/malpani/status/1379826997598121987?lang=en">publicly spoke of its</a> high-pressure tactics and practices that’s turned almost exploitative to Indian parents who place a lot of value on their children’s education. SEE ALSO: <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/news/investments-in-real-estate-touched-3-6-billion-in-jan-sep-period-colliers/articleshow/94833113.cms">Investments in real estate touched $3.6 billion in Jan-Sep period: Colliers</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/corporates/news/it-cos-go-slow-on-hiring-despite-high-attrition-rates-hiring-down-57-in-q2/articleshow/94832706.cms">IT cos go slow on hiring despite high attrition rates, hiring down 57% in Q2</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/news/elon-musk-jokes-he-is-selling-perfumes-to-fund-twitter-acquisition/articleshow/94832660.cms">Elon Musk jokes he is selling ‘Burnt Hair’ perfumes to fund Twitter acquisition, changes bio to “Perfume Salesman” as sales cross 20,000</a>

The many troubles at BYJU’s that goes beyond the recent layoffs

<ul><li>In an interview with Business Insider, <keyword id="327937" type="PERSON" weightage="20" keywordseo="Karan-Bajaj">Karan Bajaj</keyword>, CEO of <keyword id="8080458" type="UNKNOWN" weightage="20" keywordseo="WhiteHat-Jr">Whitehat Jr</keyword> said that the company is doubling the number of employees and teachers to meet the 100% month-on-month increase in student enrollments. </li><li>For the non-teaching roles, the startup is looking to hire employees across domains like sales, curriculum creation, operations. </li><li>The minimum compensation we are considering for entry-level employees is ₹500,000 per annum. </li></ul>The <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> pandemic has ushered an era of <keyword id="23248" type="PERSON" weightage="20" keywordseo="Online-learning">online learning</keyword>. As students move to remote learning setup, Indian edtech startup Whitehat Jr has ramped up hiring to meet the surge in enrollments. In an interview with Business Insider, Karan Bajaj, CEO of Whitehat Jr said that the company is doubling the number of employees and teachers to meet the 100% month-on-month increase in student enrollments. ALSO READ: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/uber-has-revoked-job-offers-made-to-graduates-from-iims-mdi-spjimr/articleshow/75740158.cms">Uber has revoked job offers made to graduates from IIMs, MDI, SPJIMR</a> “We have 400 employees and 1,500 teachers as of now and we are doubling on both fronts. If we look at last month (April), we added about 700 people — 500 teachers remotely and 200 employees — despite the lockdown and onboarded all of them virtually,” he said. At a time when companies are downsizing their workforce, the startup, which offers AI courses to children aged between 6-14 years, is also looking to hire professionals from other startups. The teachers will be hired on a contractual basis as they are freelancers and are supposed to work remotely. “Teachers are all on cloud, so we have set up a very strong tech to enable the teachers to facilitate learning. We were able to scale that very well,” he added. <div type="image" title="Snapshot 2" msid="75688788" hostid="261" caption="&amp;lt;p&amp;gt;Online coding classes at Whitehat Jr&amp;lt;/p&amp;gt;"></div> They are onboarding women as teaching staff, who have a strong academic background in STEM (Science, Technology, Engineering, Maths) in fields such as machine learning and space technology. Women account for 85% of the teaching staff at Whitehat Jr. ALSO READ: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/breaking-down-modi-20-lakh-crore-stimulus-rbi-and-finance-ministry-steps-land-and-labour-laws/articleshow/75709001.cms">RBI and Finance Ministry have already spent nearly half of Narendra Modi’s $270 billion stimulus⁠— watch out for changes to land and labour laws</a> For the non-teaching roles, the startup is looking to hire employees across domains like sales, curriculum creation, operations. “The company is growing at 100% month-on-month. With that kind of doubling up, the tech has to be built more scalably and operations teams have to take care of the growing number of classes. So we need strong resources in every department.” Most of the new hires are expected to have 1-5 years of experience. However, Bajaj said that the startup is hiring across spectrum — team leaders, directors and other middle management roles. So, the experience may vary for them, according to the seniority level. “The minimum compensation we are considering for entry-level employees is ₹500,000 per annum,” he added. Backed by Nexus Venture Partners and Omidyar Network India, the startup is now eyeing global expansion as the enrollments increase exponentially. The company claims that its US business is growing more than 200% every month. “We have a strong 25-member internal recruitment team, and consultants who are giving us hundreds of profiles. People are also applying via social media platforms. So, all mechanisms are open right now,” Bajaj said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/news/india-chief-economic-advisor-krishnamurthy-subramanian-on-labour-law-changes/articleshow/75709571.cms">India’s Chief Economic Advisor uses the word ‘squatters’ to describe India’s ‘formal’ workforce while pushing for controversial labour law changes</a> <a href="https://www.businessinsider.in/business/startups/news/ratan-tatas-advise-to-investors/articleshow/75687743.cms">Ratan Tata’s advice to investors — 'Don't dismiss anything as being too far out'</a> <a href="https://www.businessinsider.in/business/startups/news/70-of-oyo-hotels-in-china-have-reopened-and-bookings-are-rising-slowly-the-company-says/articleshow/75687657.cms">70% of OYO hotels in China have reopened ⁠— and bookings are rising slowly, the company says</a>

This edtech startup is looking to hire 1,500 teachers and 400 other staff immediately⁠— CEO says the business is doubling every month

<ul><li>With students moving to remote learning setup, edtech companies like Gradeup, Vedantu, Simplilearn, <keyword id="2008319" type="COMPANY" weightage="20" keywordseo="Upgrad">upGrad</keyword>, Unacademy, Masai School and others are hiring across roles including educators and product managers. </li><li>According to a <keyword id="769079" type="COMPANY" weightage="20" keywordseo="ManpowerGroup">ManpowerGroup</keyword> estimate, there are approximately 12,000 job vacancies for permanent roles across edtech companies in India, as of June. </li><li>Another 90,000 job openings are for contractual roles in the edtech sector. </li><li>Krishna Kumar, CEO and Founder of Simplilearn believes that the lockdown has been a ‘game-changer’ for the edtech sector as there has been a sudden surge in enrollments from students as well as working professionals.</li></ul>As schools and universities move to online modules for learning continuity, edtech has emerged as one of the top sectors that have been hiring aggressively despite the lockdown. With students moving to remote learning setup, these edtech companies like Gradeup, Vedantu, Simplilearn, upGrad, Unacademy, Masai School and others are hiring across roles including educators and product managers. Krishna Kumar, CEO and Founder of Simplilearn believes that the lockdown has been a ‘game-changer’ for the edtech sector as there has been a sudden surge in enrollments from students as well as working professionals. Over 1 lakh job opening in edtech companies for permanent and gig roles <a href="https://economictimes.indiatimes.com/jobs/situations-vacant-12000-jobs-on-offer-in-edtech/articleshow/76175565.cms">According to</a> a ManpowerGroup estimate, there are approximately 12,000 job vacancies across edtech companies in India, as of June. And that constitutes only the permanent job roles. Another 90,000 job openings are for contractual roles in the edtech sector. Simplilearn now has over 100 job openings for permanent roles and 500 vacancies for specialised or gig roles. “At Simplilearn, we witnessed a 30% jump in enrollments between March and April, 2020. While hiring was always part of the plan, the current phase has also triggered the need for more manpower to cater to this rising demand,” Kumar told Business Insider. However, as far as appraisals are concerned, Kumar said that the company is in a ‘wait and watch’ mode. “But all bonuses and variables are paid as per plan,” he added. Masai School is also planning to add nearly 20 people by the end of June. This includes Lead instructors, curriculum leads, technical mentors, marketing manager, admissions counselor and subject matter experts. “In addition to this, we have also rolled out appraisals to the existing team, for the year,” said Prateek Shukla, CEO &amp; Co-founder of Masai School. The demand for educators increase as the learner base grows Whitehat Jr, on the other hand, is doubling the number of employees and teachers to meet the 100% month-on-month increase in student enrollments. The company plans to hire 1,500 teachers and 400 other staff almost every month, CEO Karan Bajaj <a href="https://www.businessinsider.in/careers/news/jobs-at-whitehat-jr-edtech-startup-profile-experience-salary-and-other-details/articleshow/75687582.cms">said </a>in an earlier interview. Unacademy too, plans to onboard over 500 educators over the next one year while it is also focussing on recruiting across teams such as sales, operations, confirmed Tina Balachandran, VP, HR at Unacademy. The edtech companies attribute the rise in jobs to the increased demand for online learning. “Due to the increased demand for online learning, we are definitely ramping up our backend and technology and have plans to hire 1500 employees across all levels and with domain expertise in the field of technology, product, finance, strategy &amp; HR,” said Vamsi Krishna, CEO &amp; Co-founder of Vedantu. The platform says that its revenue grew by over 80% with the students spending an average of 18-20 minutes per live class daily. Gradeup also witnessed nearly 25% surge in daily enrollments, especially live classes for JEE &amp; NEET aspirants. “With Covid 19 and the lockdown due to increase in demand, our requirements in academic positions have specifically gone up. At the same time we are also scaling up on the sales team to cater to the demand of online classes which were provided by offline institutes in the past. For the next quarter, we will hire technology, product and sales professionals. We have been hiring 30-40 people for these categories since May,” Shobhit Bhatnagar, CEO and Founder of Gradeup told Business Insider. Meanwhile, <a href="https://www.businessinsider.in/education/news/media-mogul-turned-education-entrepreneur-ronnie-screwvala-says-coronavirus-might-have-usher-a-new-era-of-online-learning/articleshow/74550344.cms">upGrad</a> onboarded senior staff including CEO Arjun Mohan and VP Puneet Tanwar, amid the lockdown. “We have closed a couple more senior management positions too, on the product and business side and they will be joining us in the next 4-6 weeks. All our hiring procedures have been shifted to online with immediate effect, which includes video calling at the time of shortlisting the candidate, followed by another round of interview call with the HR and the respective team manager,” Mayank Kumar, Co-founder &amp; MD, upGrad said. The hiring and onboarding has also witnessed a shift. Companies are virtually onboarding employees via video conferencing tools — leveraging technology and digitisation. See also: <a href="https://www.businessinsider.in/careers/news/digital-skills-that-experts-believe-you-need-to-survive-the-current-job-crisis/articleshow/76167406.cms">Digital skills that experts believe you need to survive the current job crisis</a> <a href="https://www.businessinsider.in/education/news/indian-government-may-allow-schools-to-open-after-august-15/articleshow/76252838.cms">Indian government may allow schools to open after August 15</a> <a href="https://www.businessinsider.in/education/news/iit-bombay-kharagpur-roorkee-and-kanpur-students-will-not-have-to-sit-for-final-year-exams/articleshow/76167610.cms">IIT Bombay, Kharagpur, Roorkee and Kanpur students will not have to sit for final year exams</a>

Edtech hirings at an all-time high — over 4,100 job openings in Unacademy, Vedantu, Simplilearn and more

<ul><li><keyword id="2900267" type="PERSON" weightage="20" keywordseo="Byju">Byju</keyword>'s plans to invest $1 billion in the North American market over the next two years.</li><li>The company believes that that international market would make a third of its revenue in the future.</li><li>The Bengaluru-based company is estimated to earn $300 million from the US market in FY22.</li></ul> Byju's has had global aspirations since 2019, when it acquired US-based educational game system Osmo for $120 million. The pandemic and the resultant boost for online education platforms in 2020 have led to aggressive expansion by the Indian decacorn (startup valued at over $10 billion) this year. “India can provide teachers to the world, just like software engineers,” founder Byju Raveendran said in an interview with Business Insider in October 2020. <div type="Youtube" id="qIe5VhDvJXU" title="How EdTech Can Shape The Future Hereon?" thumbUrl="https://i.ytimg.com/vi/qIe5VhDvJXU/mqdefault.jpg"></div> Byju’s has already laid out an elaborate plan for the estimated <a href="https://www.austrade.gov.au/ArticleDocuments/5085/Edtech-US-market-snapshot.pdf.aspx/">$43 billion</a>+ edtech market in the US dominated by Age of Learning (valued at $3 billion) and Kajabi (valued at $2 billion) in the kindergarten to class 12 (K12) segment Byju’s is looking at. Two acquisitions in the last one month ⁠— Epic and Great Learning ⁠— have cost Byju's over $1.1 billion, and it plans to invest over a billion dollars in the North American market over the next two years. Besides that, the Indian startup has launched its core Disney-based learning app in the US and launched Byju's Global School for vocational learning. Industry watchers believe there may be more deals and acquisitions along the way. Investment bank Dexter Capital’s founder Devendra Agrawal, in an interaction with Business Insider, said that there is a lot of headroom for edtech to grow globally and there are few with the kind of muscle that Byju's ⁠— with a valuation of $16.5 billion ⁠— has. More importantly, Byju's can make more revenue ($376 million in FY20) in countries like the US, UK and Australia, where people can afford to pay more. Anita Kishore, the head of strategy at Byju's, told Business Insider that international markets would make a third of the company’s revenue in the next three to four years. The USA would be dominating the international market for Byju's. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Metric </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Base </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">July 2021 </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Growth </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Valuation </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$6 billion (2019) </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$16.5 billion </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.7X </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Users </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">50 million (May 2020) </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;background-color:#ffffff;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">100 million </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2X </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribers </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.5 million (May 2020) </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.5 million </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.8X </td></tr></tbody></table> With steady business growth prediction in India, why do Byju's want to look at the American market? The company started its expansion plans in 2019 by acquiring Osmo, which produces augmented reality games for mobile devices. <div type="ExtQuote" text="“We are building a product for the international markets. At present, our focus is getting the K-3 (lower grades first, then second and third grades) product ready for launch in the next few months.”" auname="— Mrinal Mohit, chief operating officer at Byju&amp;#39;s, said in 2019 while announcing the acquisition."></div> <div type="image" title="Image 1 Byju&amp;#39;s last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India" msid="84784080" hostid="261"></div> The company made its second acquisition in the US last week. It acquired digital reading platform Epic for half a billion dollars. The buyout provided Byju's with access to the company’s user base of 50 million students and 20 million teachers in one hit. Byju's also leveraged its<a href="https://www.businessinsider.in/business/startups/news/how-karan-bajaj-sold-his-less-than-18-month-old-startup-white-hat-jr-to-byjus/articleshow/77415329.cms"> $300 million acquisition</a> of the coding-for-kids startup WhiteHat Jr by launching the <keyword id="7677076" type="UNKNOWN" weightage="20" keywordseo="Future-school">Future School</keyword> brand that will focus on providing extra-curricular courses in international markets. The company has already launched its services in the US, Canada, Australia, New Zealand and other English speaking markets last month. It has also been piloting in non-English speaking countries like Brazil and Mexico, and will plan a full-roll out soon. <div type="ExtQuote" text="“The other advantage that [the] US market gives us is the fact that it is English speaking, right? A lot of our products, while you know, they need to be customised, and so on. Given the language is English, we are able to actually scale those products well, with teams in India. Hence, the US has been a key market for us.”" auname="— Anita Kishore, head of strategy at Byju&amp;#39;s, told Business Insider"></div> The 10-year-old startup expects to earn $300 million in the US in the financial year ending March 2022, all thanks to these three products. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Projected revenue in FY22 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Byju's Future School </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$100 million+ </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Epic </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$100 million+ </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Osmo </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$100 million+ </td></tr></tbody></table> Notably, the company has made four acquisitions, amounting to $2 billion, in the last six months. Two of which — Great Learning and Epic — directly related to the company's international expansion plans. Kishore emphasised that Byju's does not have any target number for acquisition or investments to expand its presence in the US. “It is more where we see a strategic fit and an alignment of vision with the founders. That’s where we go ahead and do that [acquisition].” <div type="image" title="Byju&amp;#39;s last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India" msid="84783979" hostid="261"></div> “ India will continue to be Byju's biggest market in terms of revenue for the next two years. However, they would want this ratio to change going forward. How soon it could change is hard to comment. The outside market, like the US, the growth could be higher. Two-three years later, the percentage revenue they get from the US market could be sizeable. It would not be more than 50% or more than Indian market. In the long term, it may happen that Byju's is getting more revenue from outside India.” -- Devendra Agrawal, founder, Dexter Capital A dream so big, it may need bigger deals Acquisitions are usually done for three reasons. First, to enter new geographies. Second, to incorporate new services or products into business offerings. Third, to eliminate a disruptor that could be a potential threat to the company in the long run. “Because of all three reasons, Byju's will continue to acquire new players…,” Agrawal told Business Insider. The organic way of doing so, by building a team and hiring people, may actually take a couple of years. The inorganic way, by acquiring companies, can help speed up the process of scaling up. Madhur Singhal, managing partner and chief executive officer (CEO) at consulting firm Praxis Global, explained that the company’s expansion largely depends on how well the company develops an empirically grounded model of technology and capability that taps the market opportunity with cross-selling into customers of acquisitions they are making. “If this strategy comes right, it could result in bigger and faster outcomes,” he added. While the global market will make up a third of Byju's revenue, India will continue to be the biggest market for the edtech company due to the massive growth of its core product in two to three years, Kishore emphasised. The recent acquisition of the test preparation chain Aakash Educational Services, which has over 200 coaching centres across India, is going to accelerate the company’s growth in India as well. Byju's had acquired Aakash for $1 billion earlier this year and it was the biggest edtech deal in the world. <div type="image" title="(image 3) Byju&amp;#39;s last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India" msid="84784062" hostid="261"></div> Even though Aakash may not contribute much to Byju's international plans, the acquisition will give the company a sizable revenue as well as profit. “If somebody has to distribute Byju's revenue — organic revenue versus revenue of acquired companies — Aakash would give them largest leverage purely from the EBITDA [earnings with interest, taxes, depreciation, and amortisation] and revenue perspective,” Dexter Capital’s Agarwal added. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/lok-sabha-mp-mahua-moitra-says-delisting-of-adani-power-need-to-be-looked-into/articleshow/84752594.cms">Adani Group in spotlight again — Lok Sabha MP Mahua Moitra says delisting of Adani Power needs to be ‘looked into’</a> <a href="https://www.businessinsider.in/thelife/news/tesla-shrugs-off-the-global-chip-shortage-to-post-its-most-profitable-quarter-yet/articleshow/84777571.cms">Tesla shrugs off the global chip shortage to post its most profitable quarter yet</a> <a href="https://www.businessinsider.in/personal-finance/news/six-red-flags-for-investors-to-avoid-becoming-a-victim-of-misselling-by-agents-or-financial-advisors/slidelist/84782913.cms">Six red flags for investors to avoid becoming a victim of misselling by agents or financial advisors</a>

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